Aaker, Kumar, Day Seventh Edition Instructor’s Presentation Slides Marketing Research Aaker, Kumar, Day Seventh Edition Instructor’s Presentation Slides

A Decision-Making Perspective On Marketing Research Chapter One A Decision-Making Perspective On Marketing Research

Marketing Research Function of Marketing Research is to link an organization to its market through information Identify and define marketing opportunity and problems Generate, redefine and evaluate marketing actions Monitor marketing performance Improve understanding of marketing as a process Aaker, Kumar, Day Marketing Research 7th Edition ©

Role of Market Research Specifies information required Designs method for collecting information Manages and implements data collection process Interprets results & communicates findings Aaker, Kumar, Day Marketing Research 7th Edition ©

Marketing Information System A continuing and interacting structure of people, equipment and procedures designed to gather, sort, analyze, evaluate, and distribute pertinent, timely and accurate information to marketing decision making MIS Uses 3 Types of Information Recurring market and accounting data from market analysis and accounting activities Intelligence relevant to future strategy of business Marketing research studies not of a recurring nature Aaker, Kumar, Day Marketing Research 7th Edition ©

Role of Marketing Research in Managerial Decision Making Four Stages of Market Planning Process Situation analysis Strategy development Marketing program development Implementation Aaker, Kumar, Day Marketing Research 7th Edition ©

Situation Analysis Analysis of Research Approaches Market environment Market characteristics Consumer behavior Research Approaches Organize information obtained from prior studies (secondary) Focus groups Aaker, Kumar, Day Marketing Research 7th Edition ©

Strategy Development Market Research Provides Information to Assist Management With Three Critical Decisions What business should we be in? How will we compete? What are the objectives for the business? Aaker, Kumar, Day Marketing Research 7th Edition ©

Marketing Program Development Programs embrace specific tasks Action program usually focuses on a single objective in support of one element of overall business strategy Aaker, Kumar, Day Marketing Research 7th Edition ©

Implementation Starts with decision to proceed to a new program or strategy Commitment to objectives, budgets and timetables Specific measurable objectives must be set for all elements of marketing program "Did the elements achieve their objectives?" “Should the marketing program be continued, discontinued, revised or expanded?" Aaker, Kumar, Day Marketing Research 7th Edition ©

Factors Influencing Marketing Research Decisions Relevance Type and Nature of Information Sought Timing Availability of Resources Cost-benefit Analysis Aaker, Kumar, Day Marketing Research 7th Edition ©

Ethics in Marketing Research Ethics of the Sponsor Overt and covert purposes Dishonesty in dealing with suppliers Misuse of research information Ethics of the Supplier Violating client confidentiality Improper execution of research Respondents Abuse Falsifying answers Aaker, Kumar, Day Marketing Research 7th Edition ©

A Push to Probe Buying Habits in Latino Homes Hispanics account for nearly 12% of the U.S. population. Research shows that Latino households outspend general market households in many product categories In 1998 only 2% of total advertising dollars in the United States was focused on Latinos. Who can tell me what the problem is? Aaker, Kumar, Day Marketing Research 7th Edition ©

Minute Maid Quits Trying to Free OJ Minute Maid attempted to market orange juice as more than a breakfast drink. They failed in their attempt, but succeeded in re-discovering their original market. With a renewed emphasis on marketing orange juice as a breakfast drink, sales have steadily risen. Who thinks they were right to try. Aaker, Kumar, Day Marketing Research 7th Edition ©

Future Grocery Store: It’s Smaller and a Big Challenge for Brand Marketers Agentry Marketing: Retailer becomes agent for the consumer, creating a more efficient and personal shopping experience. Moment of Value Store: Smaller: 10,000 sq ft. compared to 60,000 sq ft. Carries only 5,000 SKU’s compared to 20,000 SKU’s. Aaker, Kumar, Day Marketing Research 7th Edition ©

Future Grocery Store: It’s Smaller and a Big Challenge for Brand Marketers Factors of selling through agentry marketing: Store manager will become a central merchandising influence. Products in stock to be determined by customer preferences. Each store will focus more closely on neighborhood preferences. More opportunities for co-branding. Are Moment of Value stores better than supermarket giants of today, what do you think? Aaker, Kumar, Day Marketing Research 7th Edition ©

Situation Analysis Strategy Development Marketing Program Development Understand the environment and the market Identify threats and opportunities Assess the competitive position Situation Analysis Define the business scope and served market segments Establish competitive advantages Set performance objectives. Strategy Development Marketing Program Development Product and channel decision Communication decisions Pricing Personal selling decisions Implementation Performance monitoring Refining strategies and program Aaker, Kumar, Day Marketing Research 7th Edition ©